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20Jul2015 Market Close: Nasdaq Closes Higher, SP500 Closes Lower, WTI Oil About To Bust Support And Gold Slipping Lower

Written by Gary

Nasdaq made another high (5231.94) and the SP500 rose above its high and closed back below 5/20's record close. Oil has continued to slip with WTI closing at 50.23, gold is also slipping closing at 1094 (and falling) and the U.S. dollar can't make up its mid which way it wants to go closing above 98.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

France's Faurecia explores sale of bumpers business: Bloomberg

(Reuters) - France's Faurecia SA is set to explore a sale of its bumpers business, which may be worth about $450 million, Bloomberg reported on Monday, citing sources.

Wall Street advances on earnings momentum

(Reuters) - Wall Street advanced modestly on Monday, with the S&P on track for its seventh gain in eight sessions, as a better-than-expected start to corporate earnings season boosted investor confidence and overshadowed a drop in commodities.

China's Total Gold Holdings Much Higher - Owns Gold In SAFE and CIC

China's Total Gold Holdings Much Higher - Owns Gold In SAFE and CIC

- China revises up its stated gold reserves in bid for IMF membership and reserve currency status
- China announces a 604 tonne increase in gold reserves
- First public disclosure re reserves in since 2009
- China officially owns around 1,660 tonnes of gold reserves - true total figure is likely much larger
- Playing long game - protecting USD reserves and positioning RMB as global reserve currency
- China true gold holdings much higher as also owns gold in SAFE and CIC

20-07-2015_1

China officially revised its gold reserves upward for the first time since 2009 on Friday. The People's Bank of China (PBOC) stated on Friday that it had added 604 tonnes of gold to its official reserves last month.

Gold is no longer used to back paper and digital money of today, however it remains an important part of monetary reserves internationally. This can be seen in the People's Bank of China's (PBOC) announcement of an increase in their gold reserves.

China's official reserves are now almost 1660 tonnes of gold. Analysts, including Bloomberg and ourselves, had been expecting a sharp jump to at least 2,000 tonnes and possibly as high as 3,000 or 4,000 tonnes.< ...

Lockheed to buy Sikorsky for $9 billion; reviews options for IT business

WASHINGTON (Reuters) - Lockheed Martin Corp said Monday it would buy Sikorsky Aircraft, the helicopter unit of United Technologies Corp , for $9 billion, and would review the possible sale or spinoff of $6 billion in other information technology and services businesses.

Ashley Madison Hacked: America's 37 Million 'Cheaters' About To Be Exposed

Two months ago, AdultFriendFinder was hacked, exposing fuck buddy friend-finding federal employees among its 3.5 million user 'exposure'. Today, as KrebsOnSecurity reports, large caches of data stolen from online cheating site AshleyMadison.com have been posted online by an individual or group that claims to have completely compromised the company's user databases, financial records and other proprietary information (including profiles with all the customers' secret sexual fantasies). The hacker group "The Impact Team" manifesto concludes, "too bad for those [37 million] men, they're cheating dirtbags and deserve no such discretion."

As KrebsOnSecurity reports, the still-unfolding leak could be quite damaging to some 37 million users of the hookup service, whose slogan is "Life is short. Have an affair."

The data released by the hacker or hackers — which go by the name The Impact Team — includes sensitive interna ...

Wall St. Drifts Higher, but Oil and Gold Decline

Markets across Europe rose as investors' concerns about Greece's future in the European Union were eased.

Morgan Stanley beats estimates as trading revenue jumps

(Reuters) - Morgan Stanley reported a stronger-than-expected second-quarter profit as its bond and equities trading businesses handily outperformed those of its Wall Street rivals.

Gold hits five-year low under $1,100 on Chinese selling

LONDON (Reuters) - Gold prices plunged as much as 4 percent to their lowest in more than five years on Monday as sellers in top consumer China offloaded the metal.

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